Total confusion!

[googoo]

Hi, I've been at Royal Mail since 2002 and so I'm in various versions of the pension scheme.
I'm not sure which ones I'm in as I find it all confusing.
Can someone tell me who to contact as a one stop shop to see what benefits I could take and a forecast of those benefits age 60 (I'm 59)?
Or do I have to contact several different places?
I'm sure there may be answers in some of the other topics but my head hurts even reading through a few of them.
Why is this so difficult for Royal Mail to make this simple?
I have a private pension too and the yearly updates I get are as clear as day!
Thank you.

[BenacreNick]

You should have annual statements for all of the various pension pots so far Googoo.

No doubt someone will be able to give you all of the details very soon.

These are some of the pension pots and email contacts.

RMPP - Royal Mail Pension Plan 2012 to 7th Oct 2024. Pensions.helpline@royalmail.com

RMSPS - Royal Mail Statutory Pension Scheme (Capita) up to 2012. Enquiries@rmsps.co.uk

RMCPP - Collective Plan started 7th Oct 2024. Collectiveplanhelpline@royalmail.com

Plus any various AVC schemes as well.

[RobertT]

Hi, I've been at Royal Mail since 2002 and so I'm in various versions of the pension scheme.
I'm not sure which ones I'm in as I find it all confusing.

You'll have been in section C from 2002 to 2024, where you built up Age60 benefits from 2002-2010, Age65 2010-2018 and Cash Balance 2018-2024.
That's administered by RMSPS(up to 2012) and RMPP(2012-2024).

Since 2024 you'll have been in the RMCPP.

Lots of info on how the schemes work can be found on the various websites, see my link below.

Can someone tell me who to contact as a one stop shop to see what benefits I could take and a forecast of those benefits age 60 (I'm 59)?
Or do I have to contact several different places?

There isn't a one stop shop, so you'll have to make use of your annual statements(RMSPS&RMPP are due soon) and the online portals. Or else contact them direct for quotes.
The RMPP and RMSPS should contact you automatically around 6 months before your 60 anyway.

I have a private pension too and the yearly updates I get are as clear as day!

Your personal pension statements will be based on set criteria, such as your pot is worth £x and that will provide a pension of £y at a certain age, which assume you're married and want a pension income that goes up with inflation each year and death benefits when you die.
In practice, there's lots of different options which can increase or decrease the amount of income you might get, so it's important to choose one that's the most applicable to your circumstances.
For example: a spouses pension is no good if you're single.

Plus most people do drawdown these days, which enables you to manage the money yourself instead of having an income for life.

So it might not be as clear as you think.

[googoo]

OK. Thanks. I'll check it out.

[BenacreNick]

Thanks Robert for tidying that up for Googoo.